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Swiss watch exports to the United States follow V-shaped recovery path

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Swiss watch exports to the United States are 20.9% lower for the first 10 months of 2020, after recovering from drops of 86% drop in April and 79% in May.

Exports worth CHF 1.6 billion for the year to date make the USA the world’s second largest market for Swiss watches after China, which is the only top 20 market in the world to have shown positive growth this year (+11.3% from January to October).

For the month of October, alone, Swiss exports appear to be growing in markets where wealthy citizens would have ordinarily traveled to buy luxury watches in places like New York, London and Switzerland.

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The United Arab Emirates notched 22.2% growth in October and Russia was up 17.2%

 

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